DXN (DXN) Q3 2025 earnings summary

Executive summary

• Operates and owns modular, mining/edge data centers, with two facilities in Darwin and Hobart, and focuses on modular, landing stations, and mining operations across Asia Pacific.

• Q3 FY25 revenue was $2.5 million (AUD 2.5 million), with modular division contributing $1.8–$1.9 million and data center operations $0.7 million.

• Launched DCaaS division, signing first contract with a US-based customer valued at $3.6 million (AUD 3.6 million) over five years.

• Secured a $0.6 million contract with BwebwerikiNET Limited and entered agreement to acquire SDC Darwin freehold, independently valued at $10 million (AUD 10 million).

• On track to meet $16 million FY25 revenue guidance, supported by a robust pipeline of 64 identified projects.

Financial highlights

• Q3 FY25 revenue: $2.5 million (AUD 2.5 million), with modular contributing $1.8–$1.9 million and data center operations $0.7 million.

• Cash and cash equivalents at quarter end: $3.2 million (AUD 3.2 million).

• Operating cash flow improved to negative $1.8 million (AUD 1.8 million) from negative $2.6 million prior quarter.

• Backlog at March end: $2.5–$3.2 million.

• PURE loan reduced by $1.0 million via debt/equity conversion, balance now $2.0 million.

Outlook and guidance

• FY25 revenue guidance reaffirmed at $16 million (AUD 16 million), with over 60 project opportunities in the pipeline.

• Confident in converting pipeline projects to revenue in FY25 and maintaining backlog into FY26.

• Focus on expanding recurring revenue and capital-light service models, including DCaaS and landing station services.